Avolon has issued an update for the second quarter of 2017. Following another active quarter, Avolon’s owned, managed and committed fleet at the end of the second quarter was 921 aircraft. In the second quarter of 2017 Avolon has completed the acquisition of the aircraft leasing business of CIT for US$10.4bn, doubling the scale of the Avolon business. The company signed a memorandum of understanding (MOU) for 75 Boeing 737 MAX 8 aircraft valued at US$8.4bn at current list prices with an option for a further 50 Boeing 737 MAX 8 aircraft. Avolon received an additional US$0.9bn equity in the second quarter, bringing the total equity infusion by Avolon’s shareholder in 2017 to US$2.4bn. It ended the quarter with US$4.1bn of cash and available undrawn debt facilities. The company delivered the world’s first Boeing 737 MAX 8 aircraft to Malindo Air and increased debt facilities by c. US$810m during the quarter providing additional financial flexibility. Avolon delivered a total of 23 aircraft, including 6 redeliveries, and sold 8 aircraft and completed a total of 21 lease transactions in the quarter comprising new aircraft leases, secondary leases and lease extensions. The company owned & managed a fleet of 574 aircraft at the end of the second quarter; owned, managed & committed a fleet of 921 aircraft at the end of the second quarter. Total orders & commitments, including the MOU with Boeing for 75 MAX 8 aircraft, are for 347 new technology aircraft.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada